1. Technical Field of the Invention
This invention relates generally to business planning and more particularly to generating a sales volume forecast.
2. Background of the Invention
Forecasting the volume of sales for one or more items may be an important part of business planning. For example, an enterprise may forecast the volume of sales for an item at different asking prices to determine a suitable asking price for the item. As another example, an enterprise may forecast the volume of sales for different items to determine how resources should be allocated for the manufacturing of those items. Traditionally, systems for making such forecasts have compared historical asking price increases, historical asking price decreases, historical offered discounts, and other historical “events” on the part of an enterprise with historical sales volumes for that enterprise to forecast the volume of sales for that enterprise. However, the accuracy of such forecasts has been limited.